Key Points
- 908 Devices director Christopher Brown sold 20,000 shares on June 3 at an average price of $8.73, totaling $174,600. After the sale, he still held 875,559 shares, and the trade was made under a pre-arranged Rule 10b5-1 plan.
- The stock rose 1.8% and recently traded around $8.82, near its 52-week high of $9.34. The company’s shares remain well above both the 50-day and 200-day moving averages.
- Analysts are mixed on MASS, with recent downgrades leaving the stock at a consensus “Hold” rating and a $12.00 average price target. The company also reported a smaller-than-expected quarterly loss and better-than-expected revenue in its latest earnings release.
908 Devices Inc. (NASDAQ:MASS - Get Free Report) Director Christopher Brown sold 20,000 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $8.73, for a total transaction of $174,600.00. Following the sale, the director directly owned 875,559 shares in the company, valued at approximately $7,643,630.07. The trade was a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
908 Devices Stock Up 1.8%
MASS stock opened at $8.82 on Friday. The company's 50-day simple moving average is $7.24 and its 200-day simple moving average is $6.53. 908 Devices Inc. has a 52-week low of $5.03 and a 52-week high of $9.34. The firm has a market cap of $333.48 million, a P/E ratio of -8.82 and a beta of 0.63.
908 Devices (NASDAQ:MASS - Get Free Report) last posted its earnings results on Tuesday, March 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.01. 908 Devices had a negative net margin of 62.40% and a negative return on equity of 14.03%. The business had revenue of $17.38 million for the quarter, compared to analyst estimates of $16.19 million. On average, analysts anticipate that 908 Devices Inc. will post -0.34 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of analysts have recently commented on MASS shares. Wall Street Zen cut 908 Devices from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Weiss Ratings cut 908 Devices from a "hold (c-)" rating to a "sell (d-)" rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $12.00.
Get Our Latest Research Report on 908 Devices
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of MASS. AQR Capital Management LLC purchased a new position in 908 Devices in the 1st quarter valued at about $365,000. Geode Capital Management LLC lifted its stake in 908 Devices by 11.7% in the 2nd quarter. Geode Capital Management LLC now owns 658,603 shares of the company's stock valued at $4,697,000 after buying an additional 68,764 shares in the last quarter. Rhumbline Advisers lifted its stake in 908 Devices by 5.5% in the 2nd quarter. Rhumbline Advisers now owns 36,416 shares of the company's stock valued at $260,000 after buying an additional 1,894 shares in the last quarter. American Century Companies Inc. lifted its stake in 908 Devices by 22.9% in the 2nd quarter. American Century Companies Inc. now owns 56,296 shares of the company's stock valued at $401,000 after buying an additional 10,482 shares in the last quarter. Finally, Walleye Capital LLC purchased a new position in 908 Devices in the 2nd quarter valued at about $82,000. 88.06% of the stock is owned by hedge funds and other institutional investors.
About 908 Devices
(
Get Free Report)
908 Devices Inc (NASDAQ: MASS) is a developer and manufacturer of portable analytical instruments designed to deliver rapid chemical detection in field and laboratory environments. The company's core focus lies in miniaturizing high-performance mass spectrometry and ion mobility spectrometry technologies, enabling users to perform on-site analysis that traditionally required benchtop equipment.
Key products in 908 Devices' portfolio include the MX908, a handheld high-resolution mass spectrometer capable of detecting and identifying a broad range of chemicals and explosives; the M908 portable mass spectrometer for laboratory or mobile units; and the ZipChip capillary electrophoresis system for high-throughput, microfluidic separations.
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